Question on form 2210 on my return

Forum|Forum|7 years ago
June 6, 2019
1 reply
11 views

NONE of the part II boxes are checked, which should mean I do NOT have to file the form. However it is still calculating and deducting $$ ???

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AnthonyC

Level 12

You are only required to file Form 2210 in certain cases - and most of these cases are related to claiming waivers to penalties or annualizing your income to reduce the penalty. But, this is NOT the same as not being required to pay the underpayment penalty. If you review Part I, line 9 closely, you will see this distinction - "Yes. You may owe a penalty, but don't file Form 2210 unless one or more boxes in Part II below applies."

If you have been assessed an underpayment penalty, then you can see if you may qualify for an exception to the penalty. You may want to look into these exceptions if this is the first year you owed tax and it is not a normal occurrence (i.e. you had one time income this year).

You can review the underpayment penalty section by using one of the following two methods:

First, you can perform a search within the program.

Log in and click Take Me to My Return
Use the search icon in upper right hand corner (magnifying glass icon)
Search for “underpayment penalty”
Click the “Jump to underpayment penalty” link
This will take you directly to the section of the program where you can review the underpayment penalty and possibly qualify for an exception

Second, you can use a step by step method of getting the to same place above